American Indonesian Chamber of Commerce
November 2021 THE GHOST OF ALI WARDANA In 1975 a bombshell hit the Indonesian economy: after many years of massive, short-term borrowing and corruption, the Indonesian government of President Suharto publicly declared Pertamina, the state-owned oil conglomerate, bankrupt, having accumulated debts of $10.5 billion. Indonesia’s reputation and ability to borrow was severely damaged. A
Corona Virus Update #85 October 18, 2021 Cumulative number of reported cases: 4,235,384 (as of October 18) Deaths: 142,999 Recovered: 4,075,011 Fatality rate: 3.3% Rupiah to US: 14,096 Jakarta Stock Exchange Index: 6658 Reserves (US$ Billions): $146.870 (September 30)
September/October 2021 NICKEL, COAL, AND VACCINES Commentary by Wayne Forrest As COVID retreats in Indonesia, hopefully permanently, Indonesia has signaled that it intends to “build back better” but with more leverage in global vaccine debates and more control of its own marketplace. Indonesia’s and other SEA leaders believe they have economic and not just
August 2021 US STEPS UP TO ASSIST INDONESIA Commentary by Wayne Forrest The worldwide COVID outbreak hits all countries but affects them differently. The US, with arguably one of the best medical and pharmaceutical sectors, has the capacity to push it way back but not necessarily the full trust of its citizens in vaccines. Australia and New
June 2021 THE DELTA VARIANT Commentary by Wayne Forrest It pains me to pen another COVID commentary 18 months since the first. Its not something I expected to do even after cases were predicted to rise after the May mudik, the annual return of Indonesians in cities to their families in more rural communities. But here
May 2021 INDONESIA STEPS FORWARD Commentary by Cameron Hume Two unicorn companies in Indonesia with a combined valuation of $19 billion have announced their merger in preparation for a public listing in Jakarta and New York. How did this come about? Indonesia has changed. At independence in 1949 Indonesia was one of the poorest countries
May 2021 TWO SURGES Commentary by Wayne Forrest Two seemingly disconnected “surges” characterize Indonesia’s current priorities. Surge #1 is the flow of Indonesians from urban population centers to their hometowns that began May 6 and will end May 13, the last day of Lebaran, the Muslim fasting month. Travel restrictions have been imposed for the
Tolerance/Intolerance Commentary by Wayne Forrest The uptick of attacks against Asian Americans is a sickening reminder of the intolerance that raises its head all too often in the US. Indonesian Americans have been attacked, as well as Americans with Chinese, Filipino, and other heritages. AICC stands decidedly against these outrageous acts. AICC was established
Closing the Gaps Commentary by Wayne Forrest "The thinking within the government is to use this Covid crisis as an opportunity to do much deeper and more accelerated reforming in Indonesia". (Sri Mulyani, Minister of Finance, February 26, 2021) The last 30 days have witnessed a flurry of reform activity in Indonesia. President Jokowi
Bridges Not Barriers February 2021 by Wayne Forrest I often hear the idea that during the past 4 years the US government, apart from its Navy, has not been as engaged with Indonesia or Southeast Asia as many would like. The message: China’s influence grows in the vacuum of a lack of US engagement.
